AUD/USD Signal Update
Yesterday’s signals might have produced a short trade following the near-doji candlestick rejecting the identified resistance zone from 0.7514, although the entry was not given if you had waited for the bearish engulfing candlestick to confirm it. Any trade opened from here should probably be closed out now.
Today’s AUD/USD Signals
Risk 0.50%
Trades may only be entered from 8am New York time to 5pm Tokyo time, during the next 24-hours period.
Protect any trades opened before 7pm London time.
Short Trades
Go short following some bearish price action on the H1 time frame immediately upon the first entry into the zone between 0.7514 and 0.7525, or the first touch of 0.7570.
Put the stop loss 1 pip above the local swing high.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
Long Trade 1
Go long following some bullish price action on the H1 time frame immediately upon the first touch of 0.7431.
Put the stop loss 1 pip below the local swing low.
Move the stop loss to break even once the trade is 20 pips in profit.
Take off 50% of the position as profit when the trade is 20 pips in profit and leave the remainder of the position to ride.
AUD/USD Analysis
There has been no real change to the big picture, although we did get a rejection of the nearest resistance zone yesterday shortly after New York opened. If for any reason the USD is seen weaker after the important Federal Reserve announcements later, this pair should break up past that zone, and reach the next level at 0.7570.
Concerning the USD, there will be releases of Retail Sales and PPI data at 1:30pm London time, followed later by Crude Oil Inventories at 3:30pm. Finally, we will get the FOMC Statement, Economic Projections and Federal Funds Rate at 7pm. Regarding the AUD, there will be a release of Employment Change and Unemployment Rate data at 12:30am.